Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Tranz Rail Committed To Negotiation Process

Tranz Rail Remains Committed To Negotiation Process

Tranz Rail Managing Director Michael Beard said today that he was surprised by the Wellington Regional Council’s breach of protocol in negotiations over the sale of the Wellington Tranz Metro Network.

Mr Beard said when he left negotiations yesterday (Monday) it was with an undertaking to discuss with the Tranz Rail Board the WRC proposal to remove the requirement for an indicative bid from the negotiation process.

“I had agreed to take that request forward to a Board sub-committee meeting and come back with a response,” said Mr Beard. “I was therefore a little surprised to see the Council’s statement today. Commercial negotiations of this kind are not usually carried out in a public forum and it is certainly not Tranz Rail’s intention to carry on negotiations in this way.

“However, in good faith, I will take the proposal forward to the Board sub committee.”

Mr Beard said Tranz Rail accepted that the Council felt it was under some pressure because of the public funds involved. He said Tranz Rail would try and find ways to work with the Council to address the pressures Council felt it was under within a normal commercial negotiation process.

“However, Council must also recognise that we operate under similar commercial pressures and there are certain protocols that we would expect to be rigorously observed in the course of any commercial transaction of this scale.”

© Scoop Media

Business Headlines | Sci-Tech Headlines


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>


Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news